Despite tight times, UMass still a bargain

We have a bit of advice for students who have set their sights on attending the University of Massachusetts: Keep your eyes on the prize and don’t be scared off by talk about tuition and fee increases.

With its annual costs of about $20,000 in tuition and fees, the university system still offers one of the best higher education bargains in the country, especially when you look at the $50,000 price tag carried by many private colleges and universities. And besides, there’s a good chance some of those increases won’t affect every UMass student.

Last week, University of Massachusetts Board of Trustees Chairman Robert J. Manning said he wants the board to review the university’s tuition and fee structure. He proposed that the university provide financial aid to students who need it and charge more to students who can afford it.

Manning was responding to the state’s current fiscal situation and the fact that the university, which receives only about 15 percent of its annual budget from the state, can’t count on federal stimulus funds in fiscal 2011.

Despite these problems, UMass President Jack M. Wilson is optimistic that the university will remain affordable.

During a meeting this week with The Republican editorial board, Wilson said the university has become increasingly affordable in recent years, especially for lower-income people. “You can attend regardless of your financial means,” he said.

Currently, UMass students receive about $521 million in financial aid, and families that earn $30,000 a year or less paid an average of $1,700 in tuition, fees and room and board. The university meets 100 percent of tuition and mandatory fees for families that earn up to the median state family income of $78,500. And, nearly 90 percent of UMass undergrads have their demonstrated financial aid met through various forms.

Perhaps the most impressive figure of all is U.S. News & World Report’s survey that ranks UMass fifth in the nation for graduating students with the least amount of debt. That debt is about $11,000 to $12,000, compared to a nationwide average of about $17,500.

Although the university is doing its part to increase revenue – including a highly successful online program that earned $50 million in fiscal 2009 – we hope that when times get better the state will kick in more money. Wilson is not optimistic about that, and said the university will have to rely on other resources.

The bottom line is that both Wilson and Amherst Chancellor Robert C. Holub want to avoid making cuts at the university. Cuts only “diminish the product,” Holub said.

We urge young people not to let the shaky economy deter them from considering UMass. Besides, if you go to UMass-Amherst, you’ve got to catch the Minuteman Marching Band.